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Bitmain, a producer of hardware for mining encryption, filed a lawsuit against an anonymous thief in a US federal court.
In a complaint filed with the US District Court, Washington's western district in Seattle, Bitmain claims that the unidentified thief stole 617 bitcoins from an account he holds at the encrypted Binance exchange, and is seeking a jury trial for damages .
According to the filing, the "June 22, 2018 identified" as "not yet identified", stole the bitcoin funds on April 22, 2018 from his account. With a single bitcoin valued at $ 8,935 at the moment, the company is claiming that it is owed more than $ 5.5 million in damages.
Bitmain says the thief used the bitcoin in his Binance portfolio to buy MANA – a cryptographic asset used as part of the Decentraland project – "at a price that was well above the current market rate".
The thief would also have created a purchase order per ether using Bitmain's BTC portfolio, before making another purchase order for MANA using Bitmain's ETH.
At the same time, the attacker created a sales order with their existing MANA portfolio, allowing them to exchange Bitmain's BTC for their MANA "at a corresponding inflated price", adding:
"As a result of information and beliefs, Binance's automated system matched the deflated MANA sales order with the deflated MANA purchase order and traded and John Doe made significant gains at the expense of Bitmain As a result, John Doe has twice benefited from the transfer of MANA to the interior and exterior of Bitmain's digital portfolio. "
Jurisdiction
The complaint presented in Seattle, Washington, has to do with the fact that the alleged thief is supposed to have used an account they held with encrypted Bittrex. The case claims that the MANA the thief used in the transaction was originally kept in a Bittrex portfolio, and Bittrex was based in Washington.
In addition, "after John Doe completed his BTC theft from Bitmain, he transferred that BTC from John Doe's Binance portfolio and finally into a digital portfolio on the Bittrex cryptocurrency trading platform."
The lawsuit is therefore claiming that the court in Washington has jurisdiction over the matter under the law on fraud and computer abuse, the Washington cybercrime law and other laws on computer fraud.
The court may also have jurisdiction depending on the identity of the thief, declared the deposit.
While Binance and Bittrex are named in the suit as the institutions that provide accounts for Bitmain and John Doe, neither is part of the suit, which means they are not sued and do not sue.
A lawyer for Bitmain declined to comment when reached.
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